Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
Preparations for the Maha Kumbh are in full swing in Prayagraj. Many efforts are being made to we
Swati Maliwal controversy has put not only the Aam Aadmi Party but also the allies of the India A
Prime Minister Narendra Modi is on a visit to Saudi Arabia today. This visit is taking place at t
In the West Bengal teacher recruitment scam case, the ED will question and answer former minister
On the night of Sunday-Monday, the Russian army again launched a vigorous attack in Ukraine. In t
Indian team captain Rohit Sharma scored his 17th Test half-century on the fourth day of the Ranch
An update on Rajinikanth's health, he was admitted to the hospital on Monday due to ill health.
Superstar Rajinikanth has been admitted to Apollo Hospital in Chennai late Monday night. The acto
India has objected to the remarks of the Organization of Islamic Cooperation (OIC) regarding the
Prime Minister Narendra Modi will be on a visit to West Bengal on Saturday, where he will inaugur
Bharat Jodo Yatra: Congress released missed call mobile number to join the yatra in Delhi
Congress is trying hard to make Rahul Gandhi's Bharat Jodo Yatra a success. The enthusiasm of the
